7:20 PM
Lanee' Blunt
By Lanee’ Blunt
An entrepreneur seeking a small business
grant must do his homework. The Federal government does not provide grants for
starting a new business. Federal grants are given to non-profit organizations, large
businesses in government-sponsored scientific research and local and state
governments. There are minority programs that assist new businesses, and small
business grants for businesses engaged in scientific research and development
(R&D).
The SBA.gov provides a search tool for finding a broad range of financial assistance programs that your business might qualify for. The National Minority Supply and Diversity Council (NMSDC) is a great source because it provides a direct link between minority business and corporations that want to purchase goods and services from minorities. Some grants are not free and usually require the business to match funds or it may require that the company get a business loan to accompany the grant.
Apply for grants at the Grant.gov website. Download
a grant application and complete it offline. Write a grant proposal or hire a grant
writer to write the proposal for you. Prepare a business plan. Write all your
ideas down about your business because it will make it easier when you begin
your outline. Decide what you are going to put in the business plan. Get a
business plan template. A business plan will help you get outside funding, help
get credit from suppliers, help you market your business, and help serve as a
road map when you are starting out.
Reference:
SBA: How Do I Get a Small Business Grant or Loan?
SBA: Research Grants Small Businesses
Grants.gov: Apply for Grants
Entrepreneur: Minority Loan and Grant Programs
Posted in: Business services
